Econpile bags RM208m piling and substructure contract

PETALING JAYA: Econpile Holdings Bhd has bagged a RM208 million contract from Oxley Rising Sdn Bhd to undertake bored piling, earthworks, foundation and substructure works for a mixed commercial development at Jalan Ampang, Kuala Lumpur.
In a filing with Bursa Malaysia yesterday, the piling and foundation specialist said its unit Econpile (M) Sdn Bhd (EMSB), received the letter of award dated May 31, 2016 on June 1, 2016.
Econpile said the 26 months contract is the main stream business of EMSB and is expected to contribute positively to the revenue and earnings of the group for the financial year ending June 30, 2017.
The group closed higher 3.82% or 5 sen at RM1.36 yesterday, with some 2.7 million shares traded.